in the Greater New York Area Published by the Greater New York Automobile Dealers Association

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1 economic Impact of Franchised New Vehicle Car Dealers in the Greater New York Area Published by the Greater New York Automobile Dealers Association

2 introduction [ Background Founded in 1910, the Greater New York Automobile Dealers (GNYADA) represents nearly 400 franchised new car dealers in metro New York, the nation s largest vehicle sales market. Collectively, member dealers are one of the area s largest economic engines generating billions in economic impact while employing more than 57,000 individuals (directly and indirectly) in This report highlights the annual overall economic impact created by new car dealers and was prepared by Auto Outlook, Inc., an independent market analysis firm and commissioned by GNYADA. The Greater New York Automobile Dealers Association is an advocate for dealers and works to protect consumer rights. The trade association promotes on-going education and training and creates job opportunities for young people interested in pursuing careers in the automotive business. It also produces the New York International Auto Show, which injects an additional $250 million into the area s economy each year. [ Methodology Dealership financial data (and other information cited in the report) was collected from a detailed survey sent to all new vehicle automotive retailers in the greater New York metro area. The response rate was more than sufficient to form a statistically reliable database of financial and operational indicators. Economic impact is separated into two main categories: direct and indirect. Direct impact comprises economic activity at automotive dealerships themselves, such as dealership employment and compensation to employees. Indirect impact occurs away from the dealership and takes into account the extended contribution dealerships and their employees make to the area s economy. The indirect economic impact of automotive retailers was estimated by Auto Outlook, Inc. Estimates were based on previous impact studies that relied upon regional input-output economic computer models. Indirect economic estimates in this report are intentionally conservative, and therefore, may underestimate the overall contribution automotive retailers make to the area economy. All facts are based on 2012 data. Independent Research Auto Outlook, Inc. is a regional automotive market analysis firm providing market research services to automotive dealers. Jeffrey Foltz, the President of Auto Outlook, Inc., holds an MS in Economics from the University of Delaware, and has conducted many research projects analyzing state and regional economies. To contact Auto Outlook please call or visit e c o n o m i c i m p a c t r e p o r t

3 industry conclusions Executive Summary % Change Total sales dollars $27.1 Billion $24.9 Billion % Jobs generated (direct and indirect *) 57,620 55, % Employee earnings (direct and indirect *) $2.9 Billion $2.41 Billion % Taxes (State, payroll and real estate) $1.83 Billion $1.71 Billion +7.01% Charitable contributions $17.2 Million $16.1 Million +6.83% New vehicle retail sales 429, , % Advertising expenses $388 Million $385 Million +0.77% Committed estimated capital improvements to $651 Million $690 Million -5.65% dealership facilities** (2012 thru 2014) Explanation of indirect economic benefits * Figures cited in this report refer to direct and indirect economic impacts. Direct economic benefits include employment and compensation that occur at automobile dealerships. Indirect benefits include employment and compensation that occur elsewhere in the economy, but are attributable to dealership operations. For example, dealership employees spend a portion of their salaries on goods and services in the area, which results in additional indirect benefits that occur in other economic sectors. Indirect economic benefits were estimated utilizing the RIMS II (Regional industrial Multiplier System, version 2 developed by the U.S. Department of Commerce, Bureau of Economic Analysis). ** 2012 investments include Average Dealership Profile 2012 Facts on Greater New York Metro Area Automotive Retailing % Change Total sales Over $69,410,000 $63,100, % New and used vehicle sales >1,900 units >1, % Dealership payroll $5,125,000 $4,170, % New vehicle lease sales % 52% 40% +30% Vehicles serviced over 20,500 20, % Average dealership employs 83 people 79 people +5.06% Advertising expenses $995,000 $976, % (including contributions to manufacturer ad programs) e c o n o m i c i m p a c t r e p o r t

4 employment in the metro area Dealership Employment by Department AVERAGE NUMBER OF EMPLOYEES Percentage of Dealership Employment by Department Service 39% Vehicle Sales 33% Billing/Admin 12% Other 8% P and A 7% 5 Body Shop 1% 0 Service Vehicle Sales Billing/ Admin Other Parts & Acces. Body Shop TOTAL 100.0% DEPARTMENT : The average dealership in the area employed 83 people almost three-quarters of them in high-paying jobs in service and sales. Employment Totals for New Vehicle Retailing Industry Indirect 25,250 Direct 32,370 in 2012, metro area new vehicle dealerships employed a total of 32,370 individuals. an additional 25,250 individuals were employed as a result of the indirect impact of dealership operations. automobile dealership employment account for 7.4% of total retail employment in the metro area. Dealership Contribution to Total Employment in the Area Total employment resulting from auto dealerships 57,620 Dealership employment as a % of total retail employment in the area 7.4% e c o n o m i c i m p a c t r e p o r t

5 Total Employee Compensation 2012 Estimates Direct Indirect Total Payroll $1,758,900,000 $791,505,000 $2,550,405,000 Fringe Benefits $239,850,000 $110,331,000 $350,181,000 TOTAL $1,998,750,000 $901,836,000 $2,900,586, Estimates Average Per Dealer Payroll $4,510,000 Fringe Benefits $615,000 TOTAL $5,125,000 average dealership total payroll expense during 2012 exceeded $5.1 million. Ttotal employee compensation in the metro area attributable to new vehicle franchised dealers was over $2.9 billion! Dealership Employment by County/Borough Nassau 9,064 Suffolk 7,445 Westchester 5,179 Queens 3,884 Brooklyn 2,913 Bronx 1,296 Rockland Manhattan Staten Island ,000 4,000 6,000 8,000 10,000 Employment at new vehicle dealerships estimated dealership employment was highest in Nassau County (9,064 individuals). Dealership employment in New York City s five boroughs was 9,711. Dealership employment in the region was 32,370. e c o n o m i c i m p a c t r e p o r t

6 tax collections & capital improvements Tax Collections Tax Category Average per Dealer Total Number Metro Area of Dealers Total State Sales Taxes Collected $4,050, $1,579,500,000 State Payroll Taxes $365, $142,350,000 Real Estate Tax $185, $72,150,000 Other $80, $31,200,000 AREA TOTAL $4,680, $1,825,200,000 in 2012, dealers in this region collected or paid a total of more than $1.82 billion in state and local taxes. These dealers collected or paid a total of nearly $1.6 billion in state sales taxes. Dealership Capital Improvements Dealers in the Greater New York Area Allocate Significant Expenditures to Construct and Improve Facilities Total capital improvements during 2012 $222,300,000 Estimated capital improvements during 2013 $245,700,000 Estimated capital improvements during 2014 $183,300,000 TOTAL CAPITAL IMPROVEMENTS DURING THREE-YEAR PERIOD $651,300,000 Between 2012 and 2014 dealerships will collectively spend an estimated $651,300,000 on capital improvements, representing expenditures on new dealerships and upgrades to existing facilities e c o n o m i c i m p a c t r e p o r t

7 sales and leasing Average Dealership Sales by Department $4,164,600 $694,100 $5,552,800 $12,493,800 $46,504,700 Ttotal average dealership sales: $69,410,000. more than 67% of average dealership total sales were in the new vehicle department. Average used vehicle sales were 18% of the total. New Vehicle Used Vehicle Parts Services Other New Vehicles Purchased vs Leased 48% 52% Greater New York metro area dealerships sold on average, approximately 1,100 new vehicles. of that total, 48% were purchased and 52% leased by customers. Source: AutoCount data from Experian Automotive. New vehicles purchased by customer New vehicles leased by customer e c o n o m i c i m p a c t r e p o r t

8 dealership advertising expense Dealership Advertising Expenses Category Average Dealer Expense All Area Dealers Local dealership expenditures on internet $166,000 $64,740,000 Local dealership expenditures on newspaper $148,000 $57,720,000 Local dealership expenditures on direct mail $92,000 $35,880,000 Local dealership expenditures on television $61,000 $23,790,000 Local dealership expenditures on radio $56,000 $21,840,000 Local dealership expenditures on digital/social media $49,000 $19,110,000 Local dealership expenditures on other sources $43,000 $16,770,000 Dealership contributions to manufacturer ad programs $380,000 $148,200,000 TOTAL ADVERTISING EXPENSES $995,000 $388,050,000 Dealership Advertising Expenses average dealership advertising expenses in 2012 include mandatory contributions by dealers to manufacturer ad programs. Dealership Advertising Expense by Media Category (opposite page) Highest dealership advertising category was Internet, followed by Newspaper and Direct Mail. note: above figures exclude dealership contributions to manufacturer ad programs. advertising expenditures in all media categories are trending upward, however internet advertising is growing faster than other categories. Source: Automotive News e c o n o m i c i m p a c t r e p o r t

9 Dealership Advertising Expense by Media Category Dealership Advertising - Greater New York 9% 8% 7% 27% 10% 15% 24% Internet Newspaper Mail TV Radio Digital Other Note: Excludes dealer contributions to manufacturer ad programs. Dealership Advertising - Nationally % 5.0% 9.6% 15.7% 10.8% 26.5% 46.7% 16.7% 15.9% 20.2% 7.4% 16.9% Internet Newspaper Mail TV Radio Other Internet Newspaper Mail TV Radio Other e c o n o m i c i m p a c t r e p o r t

10 retailing in new york state Total Sales Summary Total retail sales in New York State in all sectors totaled $301 billion last year. Of that number, $44.1 billion is attributed to new car dealerships throughout New York, accounting for 14.6% of all retail sales. This impressive economic contribution made by predominately small business owners in communities across our area is testimony to the importance of automobile retailers to the economic health of every town and county in the State. $301 billion Total retail sales in New York State Franchised new car retailers account for 14.6% of all retail sales $44.1 billion Total sales by franchised new vehicle dealerships dealership training expense Summary of Dealership Training Expenses Per Dealership Average number of days that a dealership employee spent in training during Days Compensation paid to employees during time spent in training during 2012 $49,100 Related travel costs that the average dealership incurred related to training in 2012 (i.e., travel and lodging) $35,100 Percentage of dealerships for whom the OEM requires the dealership to pay for training 75% Dealership average for OEM training fees $15,700 Dealers are required to provide regular on-going training for their staff, as defined by the brand(s) that they sell and service. Dealers also invest heavily in non-manufacturer classes for their staff such as those offered by GNYADA s Center for Automotive Education & Training. These classes include topics such as service and parts operations, billing and bookkeeping, sales and leasing, internet sales, and marketing and management. Training, and re-training, is a fundamental part of the operation of a franchised new vehicle dealership e c o n o m i c i m p a c t r e p o r t

11 new york international auto show The New York International Auto Show generates a quarter of a billion dollars in direct and indirect impact and is an important economic force for New York. Millions of Dollars 150 Note: The 2000, 2002, 2006 and 2008 impact values are reported in 2011 dollars. Source: BBC Research & Consulting, 2000, 2002, 2006, 2008 and Total Economic Impact of the 2011 New York International Auto Show Direct Indirect Total Impacts Impacts Impacts Lodging $15,270,000 $10,130,000 $25,400,000 Exhibiting companies Direct Indirect Total Impacts Impacts Impacts $64,200,000 $39,060,000 $103,270,000 Non-local attendees Eating & Drink $18,410,000 $9,940,000 $28,340,000 PR and special events $14,710,000 $9,270,000 $23,980,000 Non-local press Entertainment $9,570,000 Parking $4,290,000 $6,210,000 $15,780,000 $2,680,000 $6,960,000 NYIAS producer $5,370,000 $2,900,000 $8,270,000 Non-local employees Local Transportation $5,710,000 $12,990,000 $7,280,000 Retail from Local Stores $6,760,000 $17,470,000 $10,700,000 Roundtrip travel $794,000 $1,970,000 $1,180,000 total Direct Total Indirect Grand Total $150,900,000 $93,500,000 $244,300,000 Note: Retail expenditure data for non-local employees are not included in the model. Columns and rows may not add to totals due to rounding. Source: BBC Research & Consulting, Note: The New York International Auto Show is owned and operated by the Greater New York Automobile Dealers Association. e c o n o m i c i m p a c t r e p o r t

12 HEADQUARTERS Greater New York Automobile Dealers Association, Inc Whitestone Expressway, Whitestone NY Mark Schienberg, President Stuart Rosenthal, Vice President, Legal Affairs GOVERNMENTAL AFFAIRS OFFICE Wilson, Elser, Moskowitz, Edelman & Dicker, LLP 677 Broadway, Albany NY Cynthia Shenker, Esq. Public Affairs Office Sams Crispe Communications 27 West 20th Street, Suite 502 New York, NY Nick Crispe Chris Sams printed on recycled paper

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